PTPTN ANNOUNCES 4PC DIVIDEND
More than 4.39 million depositors in two savings schemes will benefit
THE National Higher Education Fund Corporation (PTPTN) announced a four per cent dividend for 2019 for two of its savings plans, the National Education Savings Scheme (SSPN-i) and SSPN-i Plus.
PTPTN chairman Wan Saiful Wan Jan said the dividend involved an allocation of RM147.25 million, which will benefit more than 4.39 million SSPN depositors.
He said SSPN-i had gained profit on investment deposits amounting to RM205.27 million.
“It shows an increase of RM41.73 million, or 25.52 per cent, compared with RM163.54 million in 2018.
“The net profit achieved by SSPN-i last year with a total of RM205.27 million was the highest that PTPTN had achieved so far.
“With the hard work and dedication of staff, PTPTN could provide a four per cent dividend despite the challenging economic situation,” he said during the dividends announcement at the PTPTN headquarters here yesterday.
He said PTPTN achieved the highest SSPN-i collection of RM1.37 billion last year, compared with RM1.13 billion in 2018.
He said the increase in the number of SSPN-i accounts was a good sign as it meant more Malaysians were aware of the importance of making early savings for their children’s education.
“In 2019, 455,952 new accounts were opened, while the overall number of depositors since 2004 until last year stood at 4.39 million.
“The annual dividend given to depositors since SSPN was set up amounted to RM647.65 million.”
At the event, Wan Saiful also announced that SSPN-i account holders would receive extra one per cent on top of the annual dividend to reward those who had been consistently saving for their children’s education through the SSPN-i Loyalty Rewards programme.
He added that PTPTN had set a target of RM1.5 billion of SSPN-i deposit collection for 2020.
SSPN-i account holders will receive the four per cent dividend on Feb 8.